SBI and Indian Army sign MoU for Customized Salary Packages

29 January 2011
The State Bank of India and the Indian Army have signed a Memorandum of Understanding for offering a customized salary package to army personnel across India. The deal was signed at a formal function at Manekshaw Centre in New Delhi today.
The MOU was signed by Diwakar Gupta, Deputy Managing Director & Group Executive (National Banking Group) representing SBI and Lieutenant General V K Chaturvedi, AVSM, SM, Director General, Manpower Planning and Personnel Services for the Indian Army.
Under the package army personnel will, among other things, get a unique lifelong account number which can be retained even on transfer or after retirement to draw pension. The bank also offers under the MOU, free Anywhere Banking and free additional ATM cards even for single account holders so that even family members can transact with the same bank account through ATMs when personnel are stationed away from home.
The package also offers automatic sweep to Multi Option Deposits that ensure higher yield on the salary savings as also free Personal Accident Insurance. Also offered are free drafts, free cheque books and free transfer of funds.
The SBI is also offering under a unique and innovative initiative, training facilities to defense personnel in learning centers in the bank. The concept called ''Educate a Thousand, Empower a Million'' would equip army personnel with knowledge on banking, investment opportunities and also impart ''hands on'' training for alternate banking channels like internet banking.
The bank in various tie ups with manufacturing majors like HCL Infosystems, Maruti Suzuki India Ltd, Tata Motors etc will offer attractive schemes with sizeable discounts, free foreign trips and free maintenance warranties. All these would be available with loans at attractive interest rates.
Other initiatives under the package include installation of Point of Sale machines at CSD Canteens. These can be accessed free of cost. New ATMs, multi function kiosks and branches to suit the needs of army personnel in the remotest places would also be set up.
Thank you
With regards,
Col JC Narula (Retd)
SBI signs MoU with Indian Army for offering customized salary packages

India as a Market: A Times Group Presentation

Esteemed Friends,
Here is a very comprehensive presentation on India click here. Worth seeing, sharing and STORING for reference.
Best wishes.
Lt Gen Harbhajan Singh (Retd)

Presentation on India - Times Group
India and China
Engines of growth China and India continue to expand with positive implications for the global economy. Significantly, while China and India complement each other in many ways, they also compete with each other in many areas. As India's Finance Minister rightly said, "India has often been compared with China...I invite comparison with China."

Rating agency Standard & poor (S&P) has included 8 Indian companies in its annual 'Global Challengers List' of 300 firms, while only 4 Chinese firms were included in the list.

India has ousted Taiwan from the second place in the Asia-Pacific private equity rankings with PE deals worth US$ 2,433 million in the first half of 2007, according to Thomson Financial. China has been ranked fifth with deals worth US$ 678.7 million.

Indian companies account for 10.5 per cent of the total syndicated loans by BRIC nations, with borrowings of about US$ 8.28 billion till June 2007. This is higher than China's 7.9 per cent or over US$ 6 billion.

More than 100 Chinese pharmaceutical manufacturers have lined up major India expansion plans via joint ventures, strategic alliances, research collaborations and wholly-owned subsidiaries.

China's automobiles market is double that of India, India leads in terms of exports: China's auto exports -- 340,000 units in 2006 -- were less than half of India's total vehicle export tally of 970,620 units (including two and three wheelers).

India and China have signed a memorandum of understanding (MoU) allowing oil and gas companies of the two countries to engage in mutually beneficial cooperation in acquiring hydrocarbon assets in third world countries without undercutting each other.

The Asia-Pacific region is set for a technology boom with China and India leading the pack in terms of information technology: China is expected to account for 32 per cent of the region's technology market in 2007, India makes up 23 per cent, according to International Data Corp.

India and China have emerged as the preferred destinations for global retail majors increasingly looking to spread their businesses across the world according to a report titled, '2007 Global Powers of Retailing' by international consultancy firm Deloitte Touche Tohmatsu.

India and China's jewellery market will grow to equal the US market by 2015: in the global scenario, China has 8.9 per cent market share and India 8.3 per cent.

Driven by high trading volumes for equities and good presence of global banking and financial services firms, Mumbai has secured a place in the world's top ten financial flow hubs list, beating Hong Kong and Beijing in China, according to a survey compiled by Mastercard Worldwide.

Despite massive Government support and huge visibility on the global arena, China's software offshoring market has not taken off as expected and still has a long way to become a potential alternative to India, technology research firm Forrester said in a report released in May 2007.

GSM operators in India serve 300 per cent more subscribers per mega hertz (MHz) than operators in China, a criterion that reflects growth of a telecom network. Using the same benchmark period of 12 years of existence, Indian GSM operators served 3.36 million subscribers per Mhz by December 2006, while China had served 0.85 million subscribers by December 1999. China had introduced mobile services seven years before India.

India topped the global chart for total amount raised through American depository receipts (ADRs) beating China and Taiwan. In 2006, India raised funds worth US$ 2.09 billion while China collected US$ 2.18 billion and Taiwan US$ 1.47 billion through this route.
India as a Market: The Times Group slideshow presentation

Vibrant Gujarat: Model of development through people’s participation

Mr Modi believes in the fact that good infrastructure is the driver of economic development. He therefore, paid utmost attention on physical and social infrastructure and involved private sector in their development. The rapid and qualitative development of ports, roads, railways, LNG terminals, gas distribution and water distribution networks and other infrastructure facilities are being discussed nationwide. He has also created excellent infrastructure at tourist and religious places. Urban sector has been enlivened by up gradation of civic amenities and emphasis on cleanliness and greening and reduction of vehicular pollution. The well conceived, meticulously planned and professionally organized Vibrant Gujarat Global Investors Biennial Summits held in 2003, 2005 and 2007 have put Gujarat as a preferred investment destination among global investors. These summits have not only attracted investments worth billions of USD but also created huge employment opportunities in the state. Its logical fall out is skill development for various class of people on a massive scale. To ensure all round, all inclusive and uniform development, comprehensive and well conceived packages like Vanbandhu kalyan (tribal welfare), Sagarkhedu (development of coastal dwellers), Garib samruddhi (upliftment of urban poor) are under implementation.

A leader who believes in team-work and a good work culture, Mr Modi has launched an ambitious training programme for the 500,000 government employees in Gujarat which is being watched in awe by every other state. Many of his initiatives like evening courts, interlinking of rivers, jyotigram, grievance redressal through SWAGAT online and others are being viewed as models for replication at the national level. The state is now rated as the best e-governed state in the country. With his focus on cent per cent computerization of the villages and emphasis on quick disposal of people’s grievances, the state is set to usher into village level e-governance. Narendra Modi government has bagged more than five dozen awards in the last five years including the ones at the international level like the UN Sasakawa award for disaster reduction, CAPAM Gold award for able governance, World Bank’s Green award for environment friendly work during rebuilding after the earthquake, UNESCO Asia Pacific Heritage Award and award from Global Interpolis, Singapore. Gujarat is today rated as the best state in bio technology initiatives too.

Modi’s model of good governance is being applauded within the country and beyond. The way he has won the hearts of people of Gujarat and his popularity at the national level show that ‘Good governance is also good politics’
Extracted from: Model of development through people’s participation

Become a Millionaire in the Armed Forces

You can become a young millionaire with a few simple steps. Many people find this hard to believe because they do not know how many Defence Forces millionaires are enjoying the bounty of the services; however, do not buy into that belief. With some simple steps you can put yourself on the road to enjoying the perks of young millionaire status. The Sixth Pay commission has made it a reality for every one's dream to come true.

All one has to do is invest the MSP in the Provident Fund which yields about 10% or more Compounded Interest. Let us examine the savings for a Jawan and an Officer in the armed Forces.

Jawan
MSP is Rs 1000 pm, invest it in Provident Fund earning 10% Interest for 20 years. Investment after 20 years will total over Rs 6 lakhs.

Officer
MSP is Rs 6000 pm, invest it in Provident Fund earning 10% interest or more for 30 years. Investment for 30 years will yield Rs 105 lakhs.

There are ever so many methods or models of managing Salaries which leads one to save, invest consistently and wisely. Utilise soft loans for a house or a buying a car. Save all your tax free field area allowances which can add to your investment.

Start today and take the steps to become a millionaire. If one is a millionaire there is really no need for one to look for a job or work for anyone else after retirement. You are master of your own destiny! You as an Ex- Servicemen can enjoy the fruits of your hard labour at your own pace and pleasure.